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Breaking: Little & Co, FoxMandal settle Rr 8 cr break-up as Fox restarts Mumbai

Fox back in Noida
Fox back in Noida

FoxMandal Delhi and Little & Co have separated earlier today with Little repaying Fox the original stake purchased in the Bombay solicitors firm when they merged in 2006.

Before arbitration hearings between the firms were due to start, both law firms entered into a settlement agreement, which was accepted by the Supreme Court today and closed all litigation between the parties.

Little senior partner Ajay Khatlawala said today: “Everything is settled, we have separated peacefully. Litte will remain Little and FoxMandal will remain FoxMandal.”

FoxMandal managing partner Som Mandal added: “We’ll go our separate ways and that’s it. We hope that we start afresh.”

FoxMandal Delhi partners paid around Rs 7 crore for a 45 per cent stake in Little & Co between May 2006 and April 2008.

It is understood that Little is now paying FoxMandal a total of approximately Rs 8 crore to repurchase its shares held by FoxMandal partners and whatever was due on accounts.

In Mumbai, FoxMandal has reopened under its previous FoxMandal & Partners brand with original Fox Mumbai partner Debasis Law and lateral hire Mahindra & Mahindra corporate head legal affairs Usha Amonkar, said Mandal. They will be based in FoxMandal’s pre-existing small office space in Dalamal Towers in Nariman Point.

Khatlawala said that Little would also now consider reopening in Delhi, having had an independent office in the city before the merger.

Read Legally India’s in-depth feature in December’s Mint, which investigated FoxMandal and Little & Co’s rocky relationship and breakup.

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